How Does a Smart Thermostat Save Money on Utility Expenses?

December 07, 2020

Keeping your Grove City home comfortable can eat up a lot of money. The average family spends about $172 on monthly energy bills, according to ENERGY STAR®, or about $2,060 each year. At least half of that goes to heating and cooling.

Most homes rely on programmable thermostats, but most people don’t take the trouble to program them. The process is time-consuming, complicated and only provides you a couple of options for temperature changes. When your residence stays at an identical setting throughout the day, it requires gas and electricity and adversely impacts your monthly bill.

Smart thermostats adjust to your day-to-day activities and adapt the settings to coordinate it. But can installing one really help you spend less money on heating and cooling? Yes, and here’s why.

Studies Show Smart Thermostats Decrease on Energy Expenses

Independent studies show these devices can produce big savings.

These studies included home utility expenses in 41 states before and after adding a Nest smart thermostat. Nest said the study determined its thermostats can save up to 12% on heating and 15% on cooling, generating an approximated savings of $131 to $145 yearly.

With the typical smart thermostat costing between $100–$250, those savings can help it pay for itself. And most local energy companies have rebates for smart thermostats since they’re ENERGY STAR® certified.

How Does a Smart Thermostat Work?

After your smart thermostat is ready to go, you’ll first program it just like your previous thermostat. You’ll switch it up and down, so the thermostat can determine your desired settings. Then, it will start making a program that helps you conserve more money, whether you’re at your house or out and about. Since it geofences with your smartphone, you won’t have to put it on your list to adjust it when you leave or get back.

Pros and Cons of Installing a Smart Thermostat

Pros

As we covered before, smart thermostats offer lots of perks to your house and energy bill, such as:

  • No need to set—Your smart thermostat will learn your activities, so you won’t be required to use up time using programs or remember to turn it up or down.
  • Knows when you come and leave—Because a lot of smart thermostats geofence with your phone, your house will go into an energy-efficient setting when you go and be comfortable when you get back.
  • Remote temperature supervision—You’ll be able to keep an eye on your home’s temperature from just about anywhere, on account of an app on your phone.
  • Supervise heating and cooling use—Most smart thermostats offer valuable data through their app, like how long you needed heating and cooling on a certain day.
  • Reminders—Some smart thermostats will let you know about critical maintenance tasks, including when it’s time to get a new air filter.
  • Additional savings—Many local energy companies provide rebates for smart thermostats, so check with yours for more information.

Cons

Having said that, there’s a couple of points you should consider regarding getting a smart thermostat in your home:

  • Compatibility—Based on the type and age of your heating and cooling system, a smart thermostat might not be compatible. If you’re unsure, it’s best to contact an HVAC pro like Air Quality Solutions. We also advise having it professionally installed. This confirms that you have the proper number of wires and that it’s linked right. Some systems don’t include a common wire, which causes compatibility problems with a smart thermostat. This wire runs your thermostat, so if your house doesn’t have a C-wire, we can install one.
  • Housing situation—If you own your home and plan to live there for a long time, it’s a good investment to have a smart thermostat. If you plan to move soon or rent, we recommend waiting unless you want to take the thermostat with you. If you rent, you’ll typically need to get your landlord’s permission first ahead of putting in a new thermostat.
  • Cost—Smart thermostats are more expensive than programmable thermostats, and we suggest having yours professionally installed. However, the energy savings over time can help pay for itself.
  • Lifestyle—Does a family member work from home, or is someone often at the house? If that’s your situation, you might not see as many savings, but you’ll have the convenience of not having to program or adjust a thermostat.

Trust Air Quality Solutions for Your Smart Thermostat Needs

At Air Quality Solutions, our top purpose is to keep your home pleasant while helping you spend less heating and cooling bills. If you’re thinking about installing a smart thermostat, our specialists can help, from choosing the best model to expert installation. Give us a call at 614-871-4144 today to learn more.